FLL — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($2.28)
DCF	$-4.25	-286.6%
Graham Number	—	—
Reverse DCF	—	implied g: 13.9%
DDM	—	—
EV/EBITDA	$2.28	-0.0%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $19.80M

Near-term growth (yrs 1–5)(%)Rev: 3.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.89%

Computed WACC: 7.89%

Cost of equity (Re)11.60%(Rf 4.30% + β 1.33 × ERP 5.50%)

Cost of debt (Rd)9.26%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)13.40%

Debt weight (D/V)86.60%

Results

Intrinsic Value / share$-2.25

Current Price$2.28

Upside / Downside-198.6%

Net Debt (used)$501.28M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-4.17	$-2.21	$0.07	$2.72	$5.76
8.0%	$-5.90	$-4.32	$-2.48	$-0.36	$2.08
9.0%	$-7.10	$-5.78	$-4.25	$-2.49	$-0.47
10.0%	$-7.97	$-6.85	$-5.55	$-4.05	$-2.33
11.0%	$-8.65	$-7.67	$-6.54	$-5.25	$-3.76

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $-1.11

Book Value / share($)Yahoo: $0.39

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$2.28

Margin of Safety—

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.89%

Terminal growth rate(%)

Computed WACC: 7.89%

Cost of equity (Re)11.60%(Rf 4.30% + β 1.33 × ERP 5.50%)

Cost of debt (Rd)9.26%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)13.40%

Debt weight (D/V)86.60%

Results

Current Price$2.28

Implied Near-term FCF Growth10.5%

Historical Revenue Growth3.0%

Historical Earnings Growth—

Base FCF (TTM)$19.80M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$2.28

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $45.47M

Target EV/EBITDA multipleCurrent: 12.8×

Net Debt($B)Default: $501.28M

Results

Implied Equity Value / share$2.28

Current Price$2.28

Upside / Downside-0.0%

Implied EV$583.61M

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$1.50B	-$498.72M	$501.28M	$1.50B	$2.50B
8.8x	$52.61	$24.93	$-2.76	$-30.44	$-58.12
10.8x	$55.13	$27.45	$-0.24	$-27.92	$-55.61
12.8x	$57.65	$29.96	$2.28	$-25.40	$-53.09
14.8x	$60.17	$32.48	$4.80	$-22.89	$-50.57
16.8x	$62.68	$35.00	$7.32	$-20.37	$-48.05

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